Ethereum’s Credibility Under Spotlight

There have been allegations made against Ethereum’s founders, Vitalik Buterin and Joseph Lubin, by an insider who claims that their fraudulent activities far surpass those seen in the FTX fraud.

 Steven Nerayoff, a lawyer who has served as an advisor for Ethereum, has accused the founders of massive fraud, alleging that they surpass SBF’s wrongdoing by 1000x. He implies close ties between Buterin, Lubin, and allegedly corrupt U.S. government officials.

 The allegations stem from theories of bribery surrounding Ethereum’s ICO. In a lawsuit, more than two dozen ex-employees sued Lubin, accusing him of leaving workers with worthless shares in a Swiss holding company called Consensys AG by shuffling assets including crypto wallet provider MetaMask out of the unit.

It is important to note that these are allegations and have not been proven in court.

The specific allegations made by the ethereum insider

Vitalik Buterin and Joseph Lubin have been accused of fraudulent activities that surpass those seen in the FTX fraud case. The insider, Steven Nerayoff, who is a lawyer and former advisor for Ethereum, alleges that the founders orchestrated fraudulent activities regarding the ETH blockchain that exceed the scale of the actions committed by Sam Bankman-Fried, the former CEO and founder of FTX.

 Nerayoff also implies close ties between Buterin, Lubin, and allegedly corrupt U.S. government officials, including present United States Securities and Exchange Commission (SEC) Chairman, Gary Gensler, and former US SEC Chairperson Jay Clayton. The allegations stem from theories of bribery surrounding Ethereum’s ICO.

 In a lawsuit, more than two dozen ex-employees sued Lubin, accusing him of leaving workers with worthless shares in a Swiss holding company called Consensys AG by shuffling assets including crypto wallet provider MetaMask out of the unit.